Tesla has started accepting Bitcoin as a payment method for its electric cars, making it the first company in the automotive industry to include Bitcoin as a payment option.
See more: Tesla (TSLA) starts accepting Bitcoin payments
As early as last month, Tesla made a massive $1.5 billion investment in cryptocurrencies.
See also: Tesla: Buys$1.5 billion worth of Bitcoin - Will it accept it as payment?
The announcement about paying for cars with Bitcoin was made by the company's CEO, Elon Musk, via Twitter.
See also: Gigafactory Texas: Tesla will hire 10,000 people, including students
Also, on the Tesla site one can find the option “pay through bitcoin”. So let’s see how to buy a Tesla car with Bitcoin:
The UI of Tesla's site is not complicated. Tesla has made sure that the payment process is quite simple and easy. Follow the steps below:
- Open the Tesla site. You will be on the home page.
- Click on the Model you want to purchase from the available options at the top
- Once you select a car, you will be taken directly to its dedicated section.
- There you will see the order option, both on the first and last page.
- You can click on any option to pay via Bitcoin
- Then you can customize your car
- Finally, click on “Proceed to Payment”
- At this point, you will see a new Bitcoin payment option.
- You can initiate the payment from your Bitcoin wallet by scanning the QR code or by copying and pasting the Bitcoin address and the exact Bitcoin amount into your wallet.
Frequently asked questions
What happens if someone sends the wrong amount?
If you did not send the correct amount when submitting the order, then the order may be canceled. Also, if there has been an error, the delivery of your car will likely be delayed.
What happens if someone has Bitcoin in more than one wallet? Is it possible to pay in installments?
No, you must send the exact amount immediately, for the smooth and timely processing of your order.
Which Cryptocurrency is accepted by Tesla?
Tesla only accepts Bitcoin.
Which countries accept Bitcoin payments?
For now, the Bitcoin payment option is only available in the U.S.However, Tesla has said it will make the option available to customers in other countries as well.
How long will it take to process the payment?
According to Tesla, it will take approximately 1 minute to complete the transaction. However, if the transaction does not go through, do not retry the payment. Wait for Tesla to notify you via email about the payment. It may take up to six hours to receive the payment.
Source: Fossbytes
